Introducing $ZEN Tokenomics and Distribution
What is $ZEN?
$ZEN is the utility token that powers Zenchain Protocol and also to incentivizes the Zenchain Protocol contributors in different ways as mentioned in the lite paper and other posts.
What is our plan?
Beside the Zenchain Foundation, there are a number of capitalists who join the early fund raising round named seed round. With the demand of the community, we have drawn up a draft IDO plan for the private sale, public sale, and the possible IDO on other platforms.
For the private sale, we will manually review each KYC and requires more additional verification. For the possible IDOs on other platforms, you must match the platform requirement, and for the public sale, there is no KYC processing required. The number that we are going to provide below may be changed in the future based on the market situation.
Token sales and economics
Token allocation
Token Name : ZEN
Public sale : 25.00% of the total token supply
Seed Sale : 6.00% of the total token supply
Private Sale : 15.00% of the total token supply
Team : 5.00% of the total token supply
Advisors : 2.00% of the total token supply
Ecosystem Development : 33.00% of the total token supply
Community Growth : 10.00% of the total token supply
Token sales data
Token Name : ZEN
Token Type : BSC
Ticker: ZEN
Total Token Supply : 100,000,000 ZEN
Seed Sale Allocation : 6,000,000 ZEN
Seed Sale Token Price : Not disclosed yet
Seed Sale Amount Raised : 500,000 USD
Private Sale Allocation : 15,000,000 ZEN
Private Sale Token Price : Not disclosed yet
Private Sale Amount Raised : 375,000 USD
Public Sale Allocation : 25,000,000 ZEN
Public Sale Token Price : 0.1 USD / ZEN
Hard Cap To Be Raised : 2,500,000 USD
Public Sale Date : Not disclosed yet
Token governance and use of funds
All funds in previous fundraisers were raised in stable coins and fiat currencies. The stable coin is either self custody and stored in multisig wallets, requiring at least 2 out of 3 signatures from the management team, or is stored with a qualified custodian. Funds will be utilized according to the allocations below:
50.00% Protocol Development
25.00% Business Development and Marketing
15.00% Operations
10.00% Legal and Accounting
ZEN token release schedule
ZEN token overview and use-cases
The use cases intended for ZEN include but are not limited to: protocol governance, exchange fee value capture, derivative collateralization, liquidity mining, and staking. Further details regarding each of these use cases can be found below.
Protocol Governance: The ZEN token can be used to govern various components of Injective’s side chain including the futures protocol, exchange parameters, and protocol upgrades via a DAO structure.
Exchange Fee Value Capture: After the relayer reward distribution, the exchange fee will undergo an on-chain buy-back-and-burn event to accrue value for ZEN.
Mint, Auction, Rent NFTs: To mint NFTs, or bid in the marketplace, users will use ZEN to bid and pay a fee.
Collateral Backing for Derivatives: ZEN will be utilized as an alternative to stable coin as margin and collateral for markets. In some futures markets, ZEN can also be used for collateral backing or insurance pool staking where stakers can earn interest on their locked tokens.
Exchange Participation Incentives: The foundation plans to incorporate a liquidity mining scheme and distribute a fixed number of ZEN tokens daily weighted by the liquidity each network participant provides.
Tendermint-based Proof-of-Stake (PoS) Security: To ensure the security of ZenChain, ZenChain will incentivize nodes to stake ZEN and participate in the ZenChain network consensus with block rewards
Who is Zenchain?
The ZenChain Foundation is developing ZenChain, a blockchain specifically dedicated to decentralized financial (DEFI) applications and non-fungible tokens (NFTs). By focusing on the functionality of the blockchain and dedicating it specifically to DEFI and NFTs, ZenChain provides unparalleled high transaction throughput, reduced risk of errors, and intelligent feature development specifically for the fulfillment of financial services for both fungible token and non-fungible token (NFT) on the blockchain.
Important Links
Website: https://zenchain.co
Facebook: https://www.facebook.com/Zenchainofficial
Telegram Channel: https://t.me/Zenchainofficial
Twitter: https://twitter.com/zenchainco
Github: https://github.com/zenchainprotocol
